File photo: Wallenius Wilhelmsen Wallenius Wilhelmsen has announced temporary layoffs of 2,500 workers as it suspends operations at several land-based processing facilities in the U.S. and Mexico as the coronavirus pandemic wreaks havoc on its business. “While we work diligently to avoid reductions in our workforce, we have no choice but to respond to the disruption … [Read more...]
Wallenius Wilhelmsen Mothballs Vessels, Cuts Dividend
Photo Credit: ZEON/CC BY 3.0 OSLO, March 23 (Reuters) - Shipping firm Wallenius Wilhelmsen, which transports cars and other vehicles from factories to markets, has cut its dividend to zero and will mothball up to 10 vessels as demand plunged amid the coronavirus outbreak, it said on Monday. The company also plans to scrap up to four older vessels, it … [Read more...]
Wallenius Wilhelmsen Charged with Criminal Cartel Conduct in Australia
SYDNEY, Aug 23 (Reuters) - Norwegian shipping company Wallenius Wilhelmsen Ocean AS (WWO) has been charged with criminal cartel conduct, Australian Competition and Consumer Commission (ACCC) said on Friday. The ACCC said the charges relate to the shipping of vehicles to Australia between June 2011 and July 2012. Wallenius Wilhelmsen said it had been cooperating fully with … [Read more...]
Wallenius Wilhelmsen Earnings Hit by Rising Bunker Costs, Low Rates
Rising bunker prices and low shipping rates negatively impacted Wallenius Wilhelmsen's earnings in the third quarter. The Norwegian shipping group reported Friday a total income of US$1 billion in the third quarter, up 7% compared to 2017. The company said the increase was primarily due to increased revenues in both its land-based and ocean segments, driven by a combination … [Read more...]
Wilhelmsen and Wallenius Agree to Merger Deal
International maritime group Wilh. Wilhelmsen Holding and shipping company Wallenius Lines have signed a letter of intent to combine their jointly owned investments and merge ownership of the majority of their vessels. The companies say the new entity, to be named Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies … [Read more...]